August Monthly

Transcription

1 Official Publication of the Greater Tulsa Association of REALTORS GTAR W rld August Monthly Presented by the Greater Tulsa Association of REALTORS August 25 & 26 8:30 a.m. - 5:00 p.m. with National Instructor: Ruth Fennell Cost: $325 (if registered by August 15) $395 after August 15 (Cost includes first year s dues of $99.00 in the SRES Council) Course Topics Include: Understanding generational demographics The myths and realities of aging How Baby Boomers are changing retirement Marketing strategies Recognizing the implications of tax laws, probate, and estate planning OREC Approved for 16 Hours of Elective CE Credit! SRES Designation Requirements: Completion of the two-day course and exam. Once you have completed the two-day course and passed the exam, you can start using the SRES designation and have access to all member benefits; no further classes are required. Baby Boomers represent the largest and wealthiest group of buyers in the country. Understand what motivates this growing market and how to address their mature needs with the prestigious SRES Designation. The SRES Designation is recognized by the National Association of REALTORS and has over 16,000 members across the United States. Class is limited to 50, so don t wait to register! For more information and to register online: Go to tulsarealtors.com; under Member Resources, click Education-Enroll in Classes, then click Register for Classes. For more detailed information about the SRES Designation, including member benefits, visit TABLE OF CONTENTS Membership... 2 RPAC... 3 Issues & Answers... 4 Directors Actions...4 Monthly Stats/Web Stats... 5 In the Loop... 6 NAR s Quad. Ethics... 7 Continuing Education Calendar... 10

2 Newsletter published monthly for members of the Greater Tulsa Association of REALTORS Welcome Send Inquiries to: P.O. Box Tulsa, OK Phone: (918) Fax: (918) GTAR OFFICERS President Steve Baker President-Elect Harriett Dunham Secretary Sheryl Chinowth Treasurer Mike Lester Past President Ron Sumner GTAR Board of Directors Mike Craddock, Rodger Erker, Gordon Everage, Dennis Hall, Jack Hodgson, Sherry Lewis, Dave Looney, Carter Maxey, Chuck Patterson Ex Officio: Pete Galbraith (OREC Commissioner), Gloria Allred (NORES President-Elect), Gary Fleener (RCA Chair), Sam Rader (NAR Regional Vice President) Vicki Barton, Coldwell Banker Select Holly Bazan, Coldwell Banker Select Teresa Chuculate, C21/Wright Leslie Clingenpeel, Coldwell Banker Select Benjamin Davis, Lamar Properties Jerry Greelis, Carol Ellis Residential Broker Billy Hendrickson, C21/Neokla Susana Hernandez, GO Realty Ryan Hoskin, Vicki Berg Property Manager Derek Jewell, Steve Douglas Realty Anna Loggains, Connie Wise Real Estate Dave Menkoff, Chinowth & Cohen Jalynn Osborne, Keller Williams William Osburn, Coldwell Banker Select Kimberly Polk, Chinowth & Cohen Tony Pollard, Tradition Realty Danna Reagan, Keller Williams Shelley Rivera, Keller Williams Clay Roberts, Chinowth & Cohen Ryan Ruth, C21/Hale Agency Dawn Seing, C21/Preferred Darlene Sharp, Patterson Larry Stamper, Bob & Jo Realty Amy Stovall, Tenkiller Lake Realty.com Krista Traylor, Coldwell Banker Select Tim Watchous, GO Realty Kalyn Williams, Okla RE Professionals Mary Lou Williams, American Realty Jessica Yearwood, Patterson NORES OFFICERS President Doug Horton President-Elect Gloria Allred Treasurer Mike Gray Past President John Louis Hausam NORES Board of Directors Margaret Bannochie, Susan Beach, Gary Griffith, Ann Ramsey Jones, Brenda Lawrence, Rexiene Reynolds, Allen Stout, Martha Swezey Ex Officio: Harriett Dunham (GTAR President-Elect) Gary Fleener (RCA Chair) NEW MEMBER PROCESSING If at all posssible, please avoid sending new members for processing during the lunch hour. We appreciate your cooperation. Best times are 9:00-11:00 a.m. or 2:00-4:00 p.m. New Members GTAR GTAR/NORES Staff Chief Executive Officer Al J. Unser, CAE Chief Operating Officer Mike Cotrill Chief Financial Officer Russ Otterstrom Executive Secretary Janie Bays Membership/Records Connie Montalbano Director of Communications and Education Daniele Holland REALTOR Resource Center Manager Barbara Forbes RCA/CIE Director & MLS Data Coordinator Renae Arbuckle Receptionist Bonnie Atkinson Customer Service Representatives Polly Choate, Tech Instructor, NORES Rules and Regs Laurie Rigney, Tech Support Rich McGonigle, Tech Support Gloria Waddle, Membership, Keys and Keyboxes Amber Poppell, Member/Staff Support Start Saving Your Pennies Dues Billing is Right Around the Corner! Statements will be sent to your broker on October 1, August 2008

3 RREALTOR PPolitical AAction C We all work hard every day to achieve success. Our industry faces constant legislative and regulatory proposals which can negatively impact our success by raising the cost of doing business or adding barriers to our jobs. REALTOR representation in government is CRITICAL to creating and maintaining the most positive environment for our industry. RPAC truly is your best investment in real estate! RPAC Major Contributors Since July 1, 2008: $99 Club Tom Allen Sherry Blackwood Christina Cheng Sylvia Couch Sandra Reid Capitol Club - $250 Susan Goad Leadership Club - $500 Lee Cohen Sheryl Chinowth 2008 RPAC GOAL is $60,990 Contributor. Statement Contributor s Name: Date Given: Address: City: State: ZIP: Work Phone: ( ) Local Board: Occupation: Employer: Please check one:! Cash! Written Instrument (Personal check payable to RPAC Escrow Account)! VISA! MasterCard Name on Card: Account #: Exp. Date: Note: VISA or MasterCard only. Contributions on corporate credit card accounts are not allowed. Declarations: The contribution listed above was freely and voluntarily given by me from my personal property. I have not, directly or indirectly, been compensated or reimbursed for the contribution listed above. Signature of Contributor: Date: Contributions or gifts to National REALTORS Political Action and Oklahoma RPAC are not tax deductible as charitable contributions for income tax purposes. Complete form and mail to GTAR, P.O. Box , Tulsa, OK $ August

4 By Janie Bays SSUES & NSWERS Q. Is it appropriate to give the code of a combination lock box (a box where a dial or buttons on the box are used to open the box) to a potential buyer? A. No. If this information is given out, you are in violation of Article 1, Section 16.1c of the NORES Rules and Regulations entitled Display of NORES MLS Data Restrictions. Showing instructions are listed under fields which may not be provided to buyers, sellers, or any individual or firm that is not a NORES MLS Participant or User. In addition, if the buyer goes to the property by themselves, the NORES member cannot ensure Section 5.2 Showings - Conduct of Cooperating Broker/Sales Associates is done. The last sentence of 5.2 says, A cooperating broker/sales associate shall ensure that the broker/sales associate and his/her prospective buyers treat the seller s property and privacy with respect. As an industry professional, your value is diminished by sharing a code that allows access to a property. If a potential buyer can view properties by themselves, why do they need you? You may also be compromising the safety of the person who uses the code to view the property. When a combination code is given to a non-professional, you cannot guarantee that the code will not be provided to other unauthorized persons. Having a lock box on the property does not give a licensee blanket authorization to open the lock boxes nor for a code to a combination lock box to be given to a nonlicensee. The use of a combination lock box is at the discretion of sellers and principal brokers. Security and liability concerns should be considered before making the decision to use a combination lock box. Please note: Combination boxes are not sold by the Greater Tulsa Association of REALTORS or the Northeast Oklahoma Real Estate Services, and rules regarding their use are not addressed specifically. If you use a DKey or EKey, and give your key to someone else to use, you and your broker can be fined up to $1,000 and have your key services suspended. Directors Actions This is a monthly feature which will report GTAR and NORES Directors actions from the previous month s Board of Directors meeting. GTAR and NORES Boards of Directors Both approved funds to buy a new phone system for the Association office. The 2008 Nominating s were named, and the Annual Meeting date of October 15, 2008 was approved. GTAR Board of Directors Directors approved the following: The use of the GTAR FHA Supplemental Agreement form, which can be found by going to TulsaRealtors.com and clicking on Forms & Contracts, then on GTAR Residential, and then scrolling to the Financial section. NORES Board of Directors Directors approved the following: Adding a short sale field (Y or N) to MarketLinx. Adding a short sale rule to the NORES Rules and Regulations to be enforced on implementation of the short sale field. Short Sale Rule: Participants must disclose potential short sales when reasonably known to the listing participants. When disclosed, participants may, at their discretion, advise other participants whether and how any reduction in the gross commission established in the listing agreement, required by the lender as a condition of approving the sale, will be apportioned between listing and cooperating participants. 4 August 2008

5 Did 26,000 People See YOUR Open House on Last Month? If Not, You re Missing Out! July Stats: Unique Visitors = 26,042 Total Property Searches = 66,375 Total Leads Sent to Associates = 627 This is a great marketing tool for getting people to your open houses, and it s FREE, so take advantage! Tuesday, Wednesday, and Thursday are the highest hit count days for open houses. How to enter an Open House in MarketLinx: Go to: Click on My Tools at the top of the page then Edit Open Houses. Enter the MLS Number for the Property. Click the Add New button. Add the Open House details then Submit to save. Broker Open House: Viewable only to other MLS Users in MarketLinx. Broker s Open Houses are searchable by clicking Reports then Open House. Public Open House: You must select Public Open House in order to be promoted to the Public on tulsarealtors.com Review, Edit, or Delete current information. NORES Help Desk (918) or helpdesk@tulsarealtors.com Tulsa MSA* 2008 June Home Sales Home Sales Revised Residential Listings June 2008 June 2007 *May 2008 Listings Processed 1,947 2,123 2,247 Year-to-Date 12,949 12,937 11,002 Number of Houses For Sale on Last Day of Month 6,751 6,094 6,681 MSI Active Listings 8,614 8,035 8,756 Pending Contracts 1,190 1,267 1,097 Residential Closings 1,082 1,373 1,138 Year-to-Date 5,666 6,712 4,584 Average Sales Price $175,000 $163,643 $158,332 Year-to-Date $155,632 $151,556 $151,758 Median Sales Price $135,000 $132,000 $134,900 Total Value Sold $189,349,926 $224,681,654 $180,181,506 Year-to-Date $889,139,069 $1,027,252,271 $699,789,143 * (Metropolitan Statistical Area) which is defined as a standard government based area. This area currently includes seven counties: Creek, Osage, Tulsa, Rogers, Wagoner, Pawnee, and Okmulgee. + Months supply of inventory. tulsarealtors.com Web Stats for July 2008 Total Hits = 7,142,025 Total Visitors = 162,933 Total Page Views = 1,584,113 Total Leads Generated = 627 Affiliate Searches = 818 August

6 L P In By Polly Choate the NORES Rules and Regulations Top 10 Most Common Violations Found on Listings (If applicable, examples pulled from Active listings in MLS) 10. Contact Info in Public fields: Public fields (i.e., Public Remarks, Media) are intended for information about the property. Do not enter information such as names, phone numbers, showing instructions, etc. Example: Remarks: BRING ALL OFFERS!!! **** 9. Listing Can t be Shown: If a property can t be shown, it can t be Active in MLS. Change the status to Withdrawn. Once it can be shown, the listing can be changed back to Active. Example: Broker Remarks: No showing please prior to August Directions Field: This is a required field. Enter actual directions to the property with a POB (Point of Beginning). Do not enter information such as showing instructions, contact information, company information, etc. Examples: Directions: Call Sam ****... Directions: See MLS Sheet. 7. Multiple Properties: Properties that contain separate tax parcel numbers must be entered on separate listings only one tax parcel per MLS number. 6. Bonus Violations: Bonuses are allowed in the Broker Remarks field. However, they cannot state or imply that they are to an associate; they are always from one broker to another. Example: Broker Remarks: bonus to selling agent 5. Fair Housing: The rules state that your listing must contain factual information about the property. If you stick with facts, you should not have issues with fair housing violations. The most common things we see that are violations are: Kids can walk to school, Great bachelor pad, Great home for growing family, etc. Examples: Remarks: in walking distance to desirable Darnaby Elementary... Remarks: A great place to raise a family 4. Photos: Photos added must be of the real estate and what s for sale. Do not submit photos with people or animals as the focal point, copyrighted photos, photos that are not what s for sale (i.e., stores nearby), etc. 3. Owner/Broker: This information must be disclosed in the Public Remarks field. The common mistake is entering it in the Broker Remarks field only. 2. Failure to Update: The rules allow 3 business days for all changes in MLS. And, #1 on the List Drum Roll Please 1. Square Footage: Refer to page 8 of the May 2008 newsletter for a square footage chart displaying what fields allow square footage and what documentation is required. To reference past newsletters, login to TulsaREALTORS.com from the Main Menu, click the GTAR Newsletter button on the left side of the screen. Examples: Remarks: 2904 SQ. FT Remarks: 604 SF FINISHED BSME 6 August 2008

7 NAR s Quadrennial Ethics Requirement De-Mystified The National Association of REALTORS Quadrennial Ethics Requirement is due by December 31, You have probably already received a letter from NAR telling you this. So far, it appears the letter has done more to confuse members than anything else. In an effort to help our members, below is what you need to know. If you have taken an Ethics course through any REALTOR Association within the last four years, GTAR s Virtual University or through NAR s website REALTOR.org, you have already met this requirement; so no further action is required on your part. If you have NOT taken an Ethics course through a REALTOR Association, GTAR s Virtual University or through NAR s website REALTOR.org, below are your options: Live Class at GTAR: GTAR offers the Ethics course almost every month free to members. Space is limited so registration is required. The remaining classes for the year are scheduled for August 21, October 16, and December 4 - all from 1:00 p.m. 4:00 p.m. (Members can register online.) Online Class Through NAR: NAR offers the Ethics course online for free at REALTOR.org; click on Code of Ethics banner on the home page and follow the links. Online Class Through GTAR: GTAR also offers the Ethics course online through its Virtual University; the cost is $15. Go to TulsaRealtors.com and click on the link. In addition to satisfying NAR s quadrennial requirement, all of the courses listed above will also satisfy OREC s CE requirement for 3 hours of Professional Standards (PSC) every 3-year licensing period. If you have any questions, please contact Connie at the Association office. Call or connie@tulsarealtors.com. The following is a letter from 2008 NAR President, Richard F. Gaylord, CIPS, CRB, CRS, GRI Dear Fellow REALTOR : Great News!! President Bush just signed into law the Housing and Economic Recovery Act of This is a major victory for REALTORS, consumers, and our nation - and YOU helped make it happen! Thanks to your advocacy, homebuyers will soon have access to more affordable financing, and first-time homebuyers (those who have not owned a home for three years) will receive a tax-credit to help them enter the market. For more details on all of the provisions in the new law, please visit This victory shows just how much we can accomplish when REALTORS, like you, get involved in politics. Here are two ways you can help keep the Voice for Real Estate strong in your state and on Capitol Hill: Join the RPAC team! If you have not yet contributed or if you wish to make another contribution, now is the time. (See page 3 of this newsletter for a donation form). Answer the Call! Whenever you receive an from us, asking you to send a letter or make a phone call, please take the time to participate. All it takes is two clicks of your computer mouse. I know how busy you are, but these responses mean a lot to us and to your Members of Congress. Remember, YOU are the Voice for Real Estate! Working All Together, I am confident that we will keep the real estate market strong and increase our mutual success for many years to come. Realist Now Offers Realist ValueMap Realist now offers Realist ValueMap, a premium home valuation tool that can tell your client What is your home worth? and more, right from your website. To add a personalized and customizable link for Realist ValueMap to your website, log on to tulsarealtors.com and Marketlinx, or for Commercial members, log on to and open Realist. Click on My Value Map under the header Realist ValueMap. Fill out the registration and Realist will you instructions for adding your own personalized Realist ValueMap to your website. August

8 Continuing Education All classes are in the GTAR Training Center unless otherwise noted. Cost of classes for members is $15 (pre-registered) and $20 (day of), unless otherwise indicated. Cost for non-members is $30 (pre-registered) and $35 (day of), unless otherwise indicated. HUD Internet Training Tuesday, August 19 1:00-4:00 p.m. Instructor: Mary Berry Yes, Mary, a GTAR favorite, is coming back to GTAR to teach after a long absence. This course is for real estate professionals interested in learning the correct HUD procedures and how to correctly submit HUD bids. Mary will teach you how to register with HUD in Bid Select yearly; how to sign up in Bid Select and maintain your profile; how to search for a HUD property; how to search the Bid Select site for HUD properties; how to submit a HUD bid Mary will walk everyone through the process of submitting a HUD bid on the Bid Select site; how to search the bids once they are open on the Bid Select site. Mary will also go over DHA Loans (203B, 203K), VA, and Fannie Mae REO S (Foreclosures), as well as other REO S. (NOTE: This is not the same HUD course that was offered at GTAR back in June.) OREC approved: 3 hours elective CE credit. First Time at GTAR! SRES Designation Course Monday & Tuesday, August 25 & 26 8:30-5:00 p.m. Cost: $325 (if registered by August 15) $395 (after August 15) Instructor: Ruth Fennell OREC approved: 16 hours elective CE credit (See page 1 for details.) For More Information on Any of These Classes, and to Register: Log on to tulsarealtors.com: Under Member Resources, Click Education-Enroll in Classes, then Click Register for Classes First Time at GTAR! NAR s At Home with Diversity Certification Course Wednesday, August 27 8:30 a.m. - 4:30 p.m. Cost: $75 Instructor: Ruth Fennell In today s housing market, where client profiles are changing rapidly, earning the confidence of a potential homebuyer is more complex than it used to be. Real estate professionals who adapt to increasing cultural diversity in the market and who wisely plan to meet the needs of diverse clients gain a competitive edge and expand opportunities. At Home with Diversity addresses issues of diversity, fair housing, and cultural differences. The course teaches you to transact business in culturally competent ways. Now the course offers more information than ever: Updated statistics, demographics, exercises, and resources Improved focus on the subtleties of fair housing Greater emphasis on developing an inclusive business plan More details on business etiquette for specific cultures Additional attention to international clientele and real estate practice Participation earns you the NAR At Home with Diversity certification and credit toward the CIPS, CRS, and PMN designations. Fair housing continuing education and GRI credit varies by state. OREC approved: 3 hours required fair housing (FHR) CE credit and 3 hours elective You can also register by calling (with Visa or MC) or by mailing a check payable to GTAR: P.O. Box , Tulsa, OK August 2008

9 More Education September 14-20, 2008 A Message from NAR President, Richard Gaylord: Every day REALTORS put themselves at risk by welcoming complete strangers into a home or getting into a car alone with someone they just met. These everyday occurrences have the potential to turn into a personal nightmare, if our members don t understand and follow the basic tenets of personal, professional and client safety. While every job that requires interaction with the public involves some risk, the NATIONAL ASSOCIATION OF REALTORS is committed to doing everything we can to minimize those risks and keep our members safe on the job and at home. On September 14, 2008, NAR will mark the sixth annual REALTOR Safety Week. For more information on REALTOR Safety Week, and a number of other great safety materials and resources, visit Safety. Working All Together, we can protect our members from risks and ensure that all REALTORS have the opportunity to succeed well into our second century. Locally, GTAR will be participating in National Safety Week by offering our annual Safety Seminar, which has become a GTAR member favorite - so much so that we now offer two classes annually - the one below with Lori Fullbright and Rick Brinkley, and the other in the spring with Captain Tracy Lewis of the Tulsa Police Department. Safety Seminar: Scams, Shams, and Shenanigans Thursday, September 4 9:00 a.m. - 12:00 p.m. Instructors: Lori Fullbright, KOTV/Channel 6 Rick Brinkley, Better Business Bureau Topics covered include showing houses to strangers; showing houses in high crime areas; taking strangers in your car; preventing crime from happening to you; what to do if you are a victim in an attack; identity theft - how to protect yourself; an intriguing look at scams, shams, and shenanigans taking place in the Tulsa area; and ways to protect yourself - learn how to avoid being taken/ conned. Also enjoy entertaining safety skits by our own not quite ready for prime time REALTOR ASSOCIATES! *OREC approved: 3 hours required (HOT) CE credit (*If you previously took this course at GTAR, and are still in the same licensing period at the time of this offering, you cannot receive CE credit this time.) Register by August 31 and Save $25! CRS 210: Building an Exceptional Customer Service Referral Business Thursday & Friday, September 18 and 19 Time: 8:30 a.m. - 5:00 p.m. (Registration begins at 7:30 a.m. on the first day.) Cost: $250 (if registered by August 31) $275 (after August 31) Instructor: Charles Bode This is a highly interactive course designed to deliver all the essentials for refocusing the student s business plan to a customer service centered, repeat, and referral business. The information provided will help identify the expectations of the new consumer, the new behaviors necessary to meet those expectations, and specific systems to make the agent s business more productive, more profitable, and more enjoyable. OREC approved: 16 hours elective CE credit Also Coming in September! Course Details and Online Registration Available Soon! Commercial 1031 Exchange Thursday, September 11 9:00 a.m. - 12:00 p.m. Instructor: Carmine DiFulvio Pending 3 hours CE credit with OREC Technology Tools to Build Your Business with Michael Tritthart Real Estate Marketing Using Publisher Friday, September 12, 9:00 a.m. - 12:00 p.m. Pending 3 hours elective CE credit with OREC Real Estate Marketing Using PowerPoint Friday, September 12, 1:00-4:00 p.m. Pending 3 hours elective CE credit with OREC 10th Annual Landlord Training Seminar Wednesday, September 24 8:30 a.m. - 1:00 p.m. Free! Instructor: Lynn Larson and Guest Speakers Pending 3 hours CE credit with OREC August

10 August 2008 Monday Tuesday Wednesday Thursday Friday 4 10:00 a.m. - 12:00 p.m. MarketLinx 3 - Prospect Gateway 8:30-9:30 a.m. Staff Mtg. 5 2:00-4:00 p.m. Catylist Search 9:00 a.m. - 12:00 p.m. Professional Standards Training (Req. PSC CE) 1:30-2:30 p.m. Building 6 9:00-10:00 a.m. Urban Affairs 9:00-10:00 a.m. Bylaws 9:00-10:00 a.m. Sales Associate 9:00 a.m. - 12:00 p.m. MarketLinx :30-9:30 a.m. Staff Meeting 2:00-4:00 p.m. CIE Manager 10:00 a.m. - 12:00 p.m. Assistant Orientation 11:30 a.m. - 12:30 p.m. Standard Forms :00-10:00 a.m. CIE 3:30-4:30 p.m. NORES Rules & Regs 9:00 a.m. - 12:00 p.m. MarketLinx :30-9:30 a.m. Staff Meeting 1:00-4:00 p.m. HUD Internet Training (Elec. CE) 10:00-10:30 a.m. RCA Banquet 10:30-11:30 a.m. RCA Two-Day Designation Course 8:30 a.m. - 5:00 p.m. with Natl. Instructor Ruth Fennell (GTAR Training Center) 9:00-10:00 a.m. RCA Education :30 a.m. - 12:00 p.m. New Member Orientation 1:30-2:30 p.m. RPML 1:00-4:00 p.m. Ethics (Req. PSC CE) 2:00-3:00 p.m. Education :30 a.m. - 4:30 p.m. with Natl. Instructor Ruth Fennell (GTAR Training Center) 10:30-11:30 a.m. Grievance 11:30 a.m. - 1:30 p.m. GTAR/ NORES Board of Directors Mtg. 10:00-11:00 a.m. Equal Opportunity 29 August Networking Luncheon Everyone is Welcome! You do not have to be a WCR member. Date: Thursday, August 14 Time: 11:15 a.m. (check-in); 11:30 (lunch) Place: Ti Amos Reception Hall (61st & Sheridan) Cost: Members - $15.00; Non-Members - $20.00 Guest Speaker: Harold Mangum, president of The Memory Technologies Institute will present techniques you can use to recall important client info and Industry gain Lots the competitive of Chances professionals edge to Win! needed Bunches in today s of pronounce market. Great Prizes! SUPER Prize for Best Costume! Tons of Fun! For Reservations: it correctly. Call Helen Allen For Tickets: at Call Mary or Pearce Barbara at Schreier For Sponsorship: Call Penny Roth at at Please RSVP by August 12 Notice to Association Members Under the long-established policy of this Association, the Oklahoma Association of REALTORS, and the National Association of REALTORS : 1. The broker s compensation for services rendered in respect to any listing is solely a matter of negotiation between the broker and his or her client, and is not fixed, controlled, recommended, or maintained by any persons not a party to the listing agreement. 2. The compensation paid by a listing broker to a cooperating broker in respect to any listing is established by the listing broker and is not fixed, controlled, recommended, or maintained by any persons other than the listing broker.